Senate, NCDMB to Collaborate on Local Content Implementation

Senate, NCDMB to Collaborate on Local Content Implementation

The Senate Committee on Local Content has resolved to collaborate and deepen the implementation of local content in the oil and gas industry and linkage sectors with the Nigerian Content Development and Monitoring Board (NCDMB).

Speaking during the inaugural meeting of both bodies, Chairman of the Committee, Senator Natasha Akpoti-Uduaghan, assured that the committee would not antagonise the board and other entities under its supervision but ensure effective implementation of its mandate.

She expressed concern over the parlous state of the economy, particularly the alarming level of unemployment which has fuelled an increase in criminality, an NCDMB statement said.

She emphasised the need to deepen the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, to create employment opportunities from the activities in the oil industry and catalyse other sectors of the economy.

In his comments, the Executive Secretary NCDMB, Felix Ogbe, assured that the board would provide all the requested documentations and partner effectively, to achieve the mandate of the committee and that of the board.

He stated that the Nigerian content level for 2022 and 2023 stood at 54 per cent and the board is on course to accomplish the 70 per cent target for 2027, as set in the Nigerian content roadmap.

On international oil companies’ model of operation in Nigeria, the executive secretary explained that most oil conglomerates have different arms, which include the downstream companies which make such investments in the petrochemical and linkage sub-sectors.

He however, noted that most operating companies in Nigeria do not have such subsidiaries in the country, hinting that the board is willing to support indigenous firms that are interested in such ventures.

Related Articles